6 April 2017
6 April 2017,

There’s something appealing about investing in a new build property. After all, if it’s just been built, presumably this means far fewer problems; given that it’s got modern plumbing, electricity and is made of brand new building materials!

Sadly, recent evidence suggests that some new builds are falling short of the mark – leaving buyers with problematic, poorly constructed properties. If you’re considering investing in property in the UK, and want to buy a new build house, read on.

What’s the Problem?

The media has recently featured a variety of stories highlighting new build houses from hell, with some home-owners claiming their properties were plagued by a number of issues, such as mould, leaks, badly fitting doors and cracked tiles.

Such stories are likely to deter property investors from buying newly constructed properties. However, providing you adopt the right approach, investing in a new-build property can be a shrewd move. Here’s a few reasons why:

  • You can build to spec. If you’re buying off-plan (before the house is built), you’ll have input into how the house is built – and can tailor it to your requirements.
  • Save money. Buying off-plan is also a highly cost-effective way to invest in UK property, providing you’re willing to take the risk of purchasing a property without seeing it in the flesh. Most new properties are also problem-free (providing you do your research first) – which means less money spent on maintenance and repairs.
  • Tenant appeal. Tenants don’t like problematic houses any more than landlords, and the prospect of a fresh, clean new home is appealing. This may mean you can raise rental prices, thus generating a better ROI.

Property Investment Tips – New Build Buying

If you’re thinking of buying a new build property, it’s vital to adopt a strategic approach.

  • Find out about the developer. Ask questions about the company in charge of the development. What other projects have they worked on? Can you obtain feedback from previous customers? Does the company have a good reputation in the industry? If you’re in any doubt, don’t buy – it’s simply not worth the risk.
  • Read up on the specs. Whether you’re buying a new build or purchasing off-plan, it’s important to read all the paperwork. Find out exactly what you’re buying, what you can expect from the finished property, and whether it’s worth your money.
  • Learn about local demand. Before investing in any buy-to-let property for sale, make sure you find out about the local rental market. Is there enough demand in the area? If there are plenty of tenants about, what sort of properties do they traditionally choose? It’s a good idea to check if a new build is actually what your tenants want.

The Buy2Let Shop

Whether you’re thinking of buying a new build or any other buy-to-let property for sale, talk to The Buy2Let Shop first. We’re a team of expert property investment agents, and it’s our job to find you the right investment property in the UK, at the perfect price.

We also offer assistance with buying a house at auction, and hold regular property investment seminars, designed to boost your knowledge of the current market. To find out more, simply visit our website – The Buy2Let Shop – today.

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